Replies to post #534108 on Mr Cooper Group Inc (COOP)

[jerrylev]

I did read this testimonial or some other testimonial in which it described the criteria that WMI used to select the mortgage to securitize.

I don't think that anyone questioned if WMI has securitized mortgages or not but the main question is how much? Is it 5B, 10B, 20B or 299B?

[Split T]

DMDMD2020, that is going to bust a lot of nonsensical bubbles. Thanks for posting this valuable information here on Ihub.
The scramble is on to dispel the truth....

[Dmdmd2020]

I was just going over the FDIC site :

https://www5.fdic.gov/idasp/advSearchLanding.asp

Click bank

Enter 32633 into the field “FDIC Certificate #”

Click search

Under the drop down field labeled “ ID Report Selections:” select assets and liabilities and click “generate report”

Click “securities” which is 5

Then click the number “19” which is “mortgage-backed securities”

This is what pops up:

“
Mortgage-backed securities
Mortgage-backed securities include:
1. US Government agency and corporation issued obligations or guaranteed certificates of participation in pools of residential mortgages.

2. US Government agency and corporation obligations and collateralized mortgage obligations issued by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (including real estate mortgage investment conduits - REMICS).

3. Other domestic debt private securities - (i.e., non-government issued or guaranteed) and certificates of participation in pools of residential mortgages.

4. Other domestic debt securities that are privately issued and collateralized mortgage obligations (including REMICS).
Effective March 1994, the full implementation of FASB 115 states that a portion of banks' mortgage-backed securities portfolio is now reported based upon fair (market) values; previously, all mortgage-backed securities not held in trading accounts were reported at either amortized cost or lower of cost or market.”

______________________________________

IMO...the FDIC even clarifies that WMI (WMB and WMB,FSB) participated in MBS Trusts created by the WMI subsidiaries.